BTS : Sustainability Report 2023/24

TABLE OF CONTENTS

01

INTRODUCTION

1.1	Message from the Chairman	04
1.2	BTS Group Business Overview	06
1.3	BTS Group Value Chain	10
1.4	About this Report and	11
	Material Issues

02

SUSTAINABILITY AT BTS GROUP

2.1	Sustainability Strategy	15
2.2	Sustainability Awards	16
2.3	and Recognition
Sustainable Development	18
2.4	Commitment
Stakeholder Engagement	22

03

BTS GROUP FOR ENVIRONMENTAL SUSTAINABILITY

3.1	Climate Action	26
3.2	Environmental Resource	35
	Management

04

BTS GROUP FOR ECONOMIC SUSTAINABILITY

4.1	Corporate Governance	42
4.2	and Business Conduct
Risk Management	47
4.3	Supply Chain Management	50
4.4	Infrastructure and Accessibility	54
4.5	IT Security and Data Privacy	59

05

BTS GROUP FOR

SOCIAL SUSTAINABILITY

5.1	Health and Safety for All	64
5.2	Human Rights Management	69
5.3	Customer Relationship	71
5.4	Management
Human Resources Management	75
5.5	Social and Community	83
	Development

06

OTHER INFORMATION

6.1

Reporting Boundaries

88

6.2 Independent Assurance Statement 90 Sustainability Performance Data

GRI Content Index

03

INTRODUCTION

SUSTAINABILITY AT BTS GROUP

BTS GROUP FOR ENVIRONMENTAL SUSTAINABILITY

BTS GROUP FOR ECONOMIC SUSTAINABILITY

BTS GROUP FOR SOCIAL SUSTAINABILITY

OTHER INFORMATION

INTRODUCTION

1. Message from the Chairman
2. BTS Group Business Overview
3. BTS Group Value Chain
4. About this Report and Material Issues

SUSTAINABILITY AT BTS GROUP

FY 2023/24

SUSTAINABILITY HIGHLIGHTS

FY 2023/24

SUSTAINABILITY IN ACTION

THE AIR WE SHARE EXHIBITION

BTS Group x BMA x Thai Health Foundation

1. Sustainability Strategy
2. Sustainability Awards and Recognition
3. Sustainable Development Commitment
4. Stakeholder Engagement

BTS GROUP FOR ENVIRONMENTAL SUSTAINABILITY

1. Climate Action
2. Environmental Resource Management

BTS GROUP FOR ECONOMIC

SUSTAINABILITY

1. Corporate Governance and Business Conduct
2. Risk Management
3. Supply Chain Management
4. Infrastructure and Accessibility
5. IT Security and Data Privacy

BTS GROUP FOR SOCIAL

SUSTAINABILITY

BTS Group

Net Zero by 2050 with science-based targets approved by Science Based Targets initiative framework (SBTi)

* ranked by S&P Global

1Global

• Ranked Company

in

TRANSPORTATION

BTS Group

The World's Most Sustainable Transportation Company*

VGI

The First and Only Certified Carbon Neutral Media Company in the World

* ranked by S&P Global

1Global

• Ranked Company
  in

MEDIA

VGI

The World's Most Sustainable Media Company*

CALENDAR DONATION - "HEROES GIVE" CAMPAIGN

1. Health and Safety for All
2. Human Rights Management
3. Customer Relationship Management
4. Human Resources Management
5. Social and Community Development

OTHER INFORMATION

1. Reporting Boundaries
2. Independent Assurance Statement Sustainability Performance Data
   GRI Content Index

SET	CDP
SET ESG Ratings 2023 - 'AA' ESG rating	Climate Change Assessment, "B" score

MSCI	Thai CAC
Indices constituent with 'AA' ESG ratings (2024)	'5-star' rating or 'Excellent' rating in
	Corporate Governance

BTS GROUP AT COP28

BTS GROUP SUSTAINABILITY REPORT 2023/24

04

INTRODUCTION

SUSTAINABILITY AT BTS GROUP

BTS GROUP FOR ENVIRONMENTAL SUSTAINABILITY

BTS GROUP FOR ECONOMIC SUSTAINABILITY

BTS GROUP FOR SOCIAL SUSTAINABILITY

OTHER INFORMATION

INTRODUCTION

1. Message from the Chairman
2. BTS Group Business Overview
3. BTS Group Value Chain
4. About this Report and Material Issues

SUSTAINABILITY AT BTS GROUP

1. Sustainability Strategy
2. Sustainability Awards and Recognition
3. Sustainable Development Commitment
4. Stakeholder Engagement

BTS GROUP FOR ENVIRONMENTAL SUSTAINABILITY

1. Climate Action
2. Environmental Resource Management

BTS GROUP FOR ECONOMIC

SUSTAINABILITY

1. Corporate Governance and Business Conduct
2. Risk Management
3. Supply Chain Management
4. Infrastructure and Accessibility
5. IT Security and Data Privacy

BTS GROUP FOR SOCIAL

SUSTAINABILITY

1. Health and Safety for All
2. Human Rights Management
3. Customer Relationship Management
4. Human Resources Management
5. Social and Community Development

OTHER INFORMATION

1. Reporting Boundaries
2. Independent Assurance Statement Sustainability Performance Data
   GRI Content Index

1.1

MESSAGE FROM THE CHAIRMAN

Dear Stakeholders, BTS Group is proud to announce that we have committed to become Net Zero by 2050.

Next station, Net Zero.

Shaping the Trajectory of our Planet with Sustainable City Solutions

As climate change accelerates and the pressure to reduce GHG emissions intensifies, the world has progressively evolved in its actualisation that being sustainable, environmentally, socially and economically, is no longer an option; rather, it is the only pathway to ensuring the viability of our planet for future generations. In response, the Paris Agreement was created in 2015 to address climate change by limiting global temperature increase to below 2 degrees Celsius, ideally to 1.5 degrees Celsius. Governments and companies have accelerated policy implementation and commitments to meet these targets. Especially so for the transportation industry, Governments have collectively realised that sole path to 'Transport Net Zero', can only be achieved through the adoption of an electric rail system (both passenger and freight). We firmly believe this bodes well for the durability of our business model, and will bring tremendous expansion opportunities in the coming decades.

When I first established BTS Group's electric rail business back in the 1990s, the core ambition was to provide passengers with a safe and convenient mode of transport that was also environmentally-friendly. Fast forward to today, and our MOVE business plays a pivotal role in alleviating Bangkok's escalating pollution problem, traffic congestion, while also expanding socio-occupational opportunities to peri-urban areas. Meanwhile, MIX businesses, which include offline-to-online advertising, digital services and distribution solutions, substantially stimulate socio-economic growth for the Thai economy, while MATCH paves way for the borderless creation of new business opportunities and synergies with partners.

A Pivotal Shift for BTS Group Towards a More Sustainable Future

With the transportation sector accounting for 34% of Thailand's carbon emissions in 2023, BTS Group recognises the significance of our role as a provider of low-carbon transportation in supporting the reduction of Thailand's carbon emissions as outlined in the Nationally Determined Contribution (NDC). Thailand's pledge to achieve Carbon Neutrality by 2050 and Net Zero by 2065, as per the Paris Agreement, have stressed the need to further accelerate the decarbonisation of the Thai economy.

As we venture into FY 2024/25, BTS Group realises that a future-driven movement towards a sustainable future, calls for a dramatic shift in perspective. In this spirit, I am thrilled to announce that in March of 2024, the BTS Group Board of Directors have approved our journey to becoming a Net Zero Company by 2050. To reach our Net Zero destination, our Net Zero Action Plan will be formulated in line with the Science Based Targets initiative framework.

(GRI 2-22)

1.1 Message from the Chairman BTS GROUP SUSTAINABILITY REPORT 2023/24

05

INTRODUCTION

SUSTAINABILITY AT BTS GROUP

BTS GROUP FOR ENVIRONMENTAL SUSTAINABILITY

BTS GROUP FOR ECONOMIC SUSTAINABILITY

BTS GROUP FOR SOCIAL SUSTAINABILITY

OTHER INFORMATION

INTRODUCTION

1. Message from the Chairman
2. BTS Group Business Overview
3. BTS Group Value Chain
4. About this Report and Material Issues

SUSTAINABILITY AT BTS GROUP

1. Sustainability Strategy
2. Sustainability Awards and Recognition
3. Sustainable Development Commitment
4. Stakeholder Engagement

BTS GROUP FOR ENVIRONMENTAL SUSTAINABILITY

1. Climate Action
2. Environmental Resource Management

BTS GROUP FOR ECONOMIC

SUSTAINABILITY

Moving Forward with Purpose

Reflecting on the good progress the Company has made within FY 2023/24, on behalf of the Board of Directors, I would like to express my sincerest gratitude to our employees, management team, shareholders, business partners, financial institutions and government agencies.

As we chart our course for Net Zero Emissions, I would like to express how thankful I am for everyone who have supported BTS Group's sustainability journey since day one. Next station, Net Zero.

Mr. Keeree Kanjanapas

Chairman of the Board of Directors /

Chairman of the Executive Committee /

Chairman of the Sustainability Committee

Impact Since Inception

>4bn

Sustainable trips enabled via low-carbon transportation

FY 2023/24 Highlights

Renewable Energy

15%

Of total electricity consumption from renewable energy sources

>2.1mn	THB 62.8bn
Tonnes of CO2e avoided through	Raised through sustainable finance
modal shift	initiatives

Energy Efficiency	Infrastructure
THB25.1mn	71 km
In cost savings due to a reduction	Expansion of low-carbon mobility
in total electricity consumption	infrastructure

1. Corporate Governance and Business Conduct
2. Risk Management
3. Supply Chain Management
4. Infrastructure and Accessibility
5. IT Security and Data Privacy

BTS GROUP FOR SOCIAL

SUSTAINABILITY

1. Health and Safety for All
2. Human Rights Management
3. Customer Relationship Management
4. Human Resources Management
5. Social and Community Development

OTHER INFORMATION

1. Reporting Boundaries
2. Independent Assurance Statement Sustainability Performance Data
   GRI Content Index

Decarbonising

Towards Net Zero

Strategy:

MOVE Sustainable

MIX Operations

MATCH

As part of its dedication to the Paris Agreement, BTS Group has announced its plan to become Net Zero by 2050, with targets formulated in accordance with the Science Based Targets initiative framework

Sustainable	Sustainable	Sustainable
Energy	Collaboration	Removal

1.1 Message from the Chairman BTS GROUP SUSTAINABILITY REPORT 2023/24

06

INTRODUCTION

SUSTAINABILITY AT BTS GROUP

BTS GROUP FOR ENVIRONMENTAL SUSTAINABILITY

BTS GROUP FOR ECONOMIC SUSTAINABILITY

BTS GROUP FOR SOCIAL SUSTAINABILITY

OTHER INFORMATION

INTRODUCTION

1. Message from the Chairman
2. BTS Group Business Overview
3. BTS Group Value Chain
4. About this Report and Material Issues

SUSTAINABILITY AT BTS GROUP

1. Sustainability Strategy
2. Sustainability Awards and Recognition
3. Sustainable Development Commitment
4. Stakeholder Engagement

BTS GROUP FOR ENVIRONMENTAL SUSTAINABILITY

1. Climate Action
2. Environmental Resource Management

BTS GROUP FOR ECONOMIC

SUSTAINABILITY

1. Corporate Governance and Business Conduct
2. Risk Management
3. Supply Chain Management
4. Infrastructure and Accessibility
5. IT Security and Data Privacy

BTS GROUP FOR SOCIAL

SUSTAINABILITY

1. Health and Safety for All
2. Human Rights Management
3. Customer Relationship Management
4. Human Resources Management
5. Social and Community Development

OTHER INFORMATION

1. Reporting Boundaries
2. Independent Assurance Statement Sustainability Performance Data
   GRI Content Index

1.2

BTS GROUP BUSINESS OVERVIEW

(GRI 2-1,2-6,201-1)

BTS Group Holdings Public Company Limited (BTS Group or the Company) is a privately owned, multi-industry conglomerate that operates across 3 business platforms: MOVE, MIX and MATCH. Listed on the Stock Exchange of Thailand (SET), BTS Group is a constituent member of the SET50 "Bluechip" index, MSCI Asia Pacific Index, FTSE4Good Index and Dow Jones Sustainability Indices (DJSI) and among the largest companies in Thailand.

Over the past two decades, BTS Group has built then expanded its businesses; initially from a property company to a multi-industry (transportation and media) conglomerate, creating strong platforms in order to transform ourselves and the companies inside the Group to accommodate borderless expansion.

Our aim remains to innovate as a solutions company sharing our strong platform together with unique and useable data to amplify our Group's and partners' value as outlined in our slogan: BORDERLESS TRANSFORM SOLUTIONS

BORDERLESS

TRANSFORM

SOLUTIONS

Total Operating

Revenue in

FY 2023/24

THB

17,966mn

Total Revenue

THB 24,387mn

Recurring Net Profit

THB 275mn

MOVE

THB 12,003mn

MIX

THB 5,112mn

MATCH

THB 851mn

Employees 6,451 persons

MOVE	5,143
MIX	847
MATCH	125
BTS Group	336
Total (persons)	6,451

1.2 BTS Group Business Overview BTS GROUP SUSTAINABILITY REPORT 2023/24

07

INTRODUCTION

SUSTAINABILITY AT BTS GROUP

BTS GROUP FOR ENVIRONMENTAL SUSTAINABILITY

BTS GROUP FOR ECONOMIC SUSTAINABILITY

BTS GROUP FOR SOCIAL SUSTAINABILITY

OTHER INFORMATION

INTRODUCTION

1. Message from the Chairman
2. BTS Group Business Overview
3. BTS Group Value Chain
4. About this Report and Material Issues

SUSTAINABILITY AT BTS GROUP

1. Sustainability Strategy
2. Sustainability Awards and Recognition
3. Sustainable Development Commitment
4. Stakeholder Engagement

BTS GROUP FOR ENVIRONMENTAL SUSTAINABILITY

1. Climate Action
2. Environmental Resource Management

BTS GROUP FOR ECONOMIC

SUSTAINABILITY

1. Corporate Governance and Business Conduct
2. Risk Management
3. Supply Chain Management
4. Infrastructure and Accessibility
5. IT Security and Data Privacy

BTS GROUP FOR SOCIAL

SUSTAINABILITY

1. Health and Safety for All
2. Human Rights Management
3. Customer Relationship Management
4. Human Resources Management
5. Social and Community Development

OTHER INFORMATION

1. Reporting Boundaries
2. Independent Assurance Statement Sustainability Performance Data
   GRI Content Index

MOVE

Rail Business

Carry around	Secured distance
850,000	138 km
trips daily
Non-Rail Business

3mn Expected Daily Trips in 2025

Our MOVE platform is focused on the daily transportation of people, whether on rail, road or water. Our goal is to accompany our passenger for their full 'door-to-door' journey without interruption.

Historically we have focused on the rail segment, where we develop and operate urban mass transit networks under long-term contracts. We carry around 850,000 trips daily across 138 km of electrified rail lines across greater Bangkok. Within the non-rail segment, we operate or own a network or being a payment provider spanning bus, bike, ferry, motorway, and airport segments and expect to carry 3mn daily trips across rail and non-rail by 2025.

MIX

Key Performances

>40mn	VGI	39,300mn
Unique audience		VGI transit media
reach
17.8mn		22
No. of Rabbit cards		Turtle shops

8.1mn

No. of Rabbit Rewards users

No. 1 O2O Marketing Solutions Provider

Our MIX platform is the combination of our "in house" data analytics and data science capabilities together with the Offline-to-Online (O2O) Marketing Solutions that we provide to our clients across our Advertising, Digital Services and Distribution platforms. These unique and market leading third party services are provided by our majority-owned and separately listed subsidiary, VGI PCL (VGI).

Aside from its exclusive O2O customer reach capability, MIX has unique and proprietary data across a broad range of segments, and has compute capability to use this for the benefit of the Group, its partners, and to clients of VGI Group, subject to applicable regulatory constraints.

MATCH

Partnerships

Sharing Economy to Amplify Value

Our MATCH platform is where we cultivate strategic partnerships. Here, we leverage off our unique and proprietary MOVE and MIX platforms to deliver enhanced reach and insight to our partners. We also receive mutual benefit which can be realised across a variety of different business models, such as revenue share or equity (or dividend) income.

1.2 BTS Group Business Overview BTS GROUP SUSTAINABILITY REPORT 2023/24

08

INTRODUCTION

SUSTAINABILITY AT BTS GROUP

BTS GROUP FOR ENVIRONMENTAL SUSTAINABILITY

BTS GROUP FOR ECONOMIC SUSTAINABILITY

BTS GROUP FOR SOCIAL SUSTAINABILITY

OTHER INFORMATION

INTRODUCTION

1. Message from the Chairman
2. BTS Group Business Overview
3. BTS Group Value Chain
4. About this Report and Material Issues

SUSTAINABILITY AT BTS GROUP

1. Sustainability Strategy
2. Sustainability Awards and Recognition
3. Sustainable Development Commitment
4. Stakeholder Engagement

BTS GROUP FOR ENVIRONMENTAL SUSTAINABILITY

1. Climate Action
2. Environmental Resource Management

BTS GROUP FOR ECONOMIC

SUSTAINABILITY

1. Corporate Governance and Business Conduct
2. Risk Management
3. Supply Chain Management
4. Infrastructure and Accessibility
5. IT Security and Data Privacy

BTS GROUP FOR SOCIAL

SUSTAINABILITY

1. Health and Safety for All
2. Human Rights Management
3. Customer Relationship Management
4. Human Resources Management
5. Social and Community Development

OTHER INFORMATION

1. Reporting Boundaries
2. Independent Assurance Statement Sustainability Performance Data
   GRI Content Index

OUR AMBITION

VISION

To serve our community with unique and sustainable solutions that greatly contributes to an improved life.

MISSION

We build inclusive infrastructure, platforms and innovate quality services for our community using a sustainable approach.

VALUES

Delivering Customer Satisfaction

Our success is dependent on our ability to develop long-lasting customer relationships. This will be achieved by listening, understanding, and anticipating our customers' needs and delivering products or services that satisfy those needs. We are professional, accountable and transparent and always strive to be responsive.

Creating Shareholder Value

We strive to deliver accretion of shareholder value through earnings growth and improvement in operational effectiveness. Specifically, we aim to deliver long-term shareholder returns to our investors that outperform returns from investment alternatives with a similar risk profile.

Supporting Sustainable Growth

Our client base and shareholder value must be enhanced in a sustainable manner. We conduct our business upholding sustainable practices that reduce environmental impact compared to competing products and services.

Developing Communities

We are an integral part of the communities which we operate in. We provide "City Solutions" that enhance our customers' sense of community. We contribute revenues and resources to work with local communities supporting education and children's welfare and we promote the health and well-being of the employees and their families.

1.2 BTS Group Business Overview BTS GROUP SUSTAINABILITY REPORT 2023/24

09

INTRODUCTION

INTRODUCTION

SUSTAINABILITY AT BTS GROUP

BTS GROUP FOR ENVIRONMENTAL SUSTAINABILITY

BTS GROUP FOR ECONOMIC SUSTAINABILITY

BTS GROUP FOR SOCIAL SUSTAINABILITY

OTHER INFORMATION

STRATEGY

1. Message from the Chairman
2. BTS Group Business Overview
3. BTS Group Value Chain
4. About this Report and Material Issues

SUSTAINABILITY AT BTS GROUP

1. Sustainability Strategy
2. Sustainability Awards and Recognition
3. Sustainable Development Commitment
4. Stakeholder Engagement

BTS GROUP FOR ENVIRONMENTAL SUSTAINABILITY

1. Climate Action
2. Environmental Resource Management

BTS GROUP FOR ECONOMIC

SUSTAINABILITY

1. Corporate Governance and Business Conduct
2. Risk Management
3. Supply Chain Management
4. Infrastructure and Accessibility
5. IT Security and Data Privacy

BTS GROUP FOR SOCIAL

SUSTAINABILITY

1. Health and Safety for All
2. Human Rights Management
3. Customer Relationship Management
4. Human Resources Management
5. Social and Community Development

OTHER INFORMATION

BTS Group has developed an innovative '3M strategy';

MOVE, MIX and MATCH,

that leverages off its proprietary and unique MOVE and MIX networks.

Under the 'Sharing Economy' concept, BTS Group provides unique MATCH solutions to its partners; sharing access to both its MOVE network (providing ACCESS to customers) and its MIX network (providing broad and customised audience REACH).

Our MOVE network itself is a pioneering concept whereby we aim to provide convenient and safe door to door transportation solutions to customers, which purposefully support UNSDG 13 (Climate Action) by reducing carbon emissions and improving living conditions.

Our MIX network has advanced beyond its leading OOH media capability to provide comprehensive O2O solutions combining advertising, digital services and distribution services, incorporating smart DATA for optimising insight and customer satisfaction.

1. Reporting Boundaries
2. Independent Assurance Statement Sustainability Performance Data
   GRI Content Index

1.2 BTS Group Business Overview

BTS GROUP SUSTAINABILITY REPORT 2023/24

10

INTRODUCTION

SUSTAINABILITY AT BTS GROUP

BTS GROUP FOR ENVIRONMENTAL SUSTAINABILITY

BTS GROUP FOR ECONOMIC SUSTAINABILITY

BTS GROUP FOR SOCIAL SUSTAINABILITY

OTHER INFORMATION

INTRODUCTION

1. Message from the Chairman
2. BTS Group Business Overview
3. BTS Group Value Chain
4. About this Report and Material Issues

SUSTAINABILITY AT BTS GROUP

1. Sustainability Strategy
2. Sustainability Awards and Recognition
3. Sustainable Development Commitment
4. Stakeholder Engagement

BTS GROUP FOR ENVIRONMENTAL SUSTAINABILITY

3.1	Climate Action
3.2	Environmental Resource
	Management

1.3

BTS GROUP VALUE CHAIN

(GRI 2-6)

Products & Services

MOVE

Green Line	Gold Line	Yellow Line
68 km	2 km	30 km
60 stations	3 stations	23 stations
Pink Line	Bus Rapid Transit (BRT)	Chao Phraya
38 km	15 km	Express Boat
32 stations	12 stations
U-Tapao	Intercity	EV-Bike
International
Motorway
Airport

ActivitiesStakeholders

Operation and maintenance of our mass transit networks

Service to 850,000 trips per day

Procurement of materials

Infrastructure and network expansion

Government

agencies

Communities

BTS GROUP FOR ECONOMIC

SUSTAINABILITY

1. Corporate Governance and Business Conduct
2. Risk Management
3. Supply Chain Management
4. Infrastructure and Accessibility
5. IT Security and Data Privacy

BTS GROUP FOR SOCIAL

SUSTAINABILITY

5.1	Health and Safety for All
5.2	Human Rights Management
5.3	Customer Relationship
5.4	Management
Human Resources Management
5.5	Social and Community

MIX

VGI	Rabbit Care
O2O Marketing	Online financial products
Solutions provider	comparison platform
Rabbit Cash	Fanslink
Digital lending	brand management
provider	on multi-platform
	commerce
Rabbit Rewards	BPS
Loyalty programme	Leading technological
of BTS Group	mass transit and payment
	management systems
	provider

Rabbit Card

Payment platform on the mass transit system and retail stores

Super Turtle

Lifestyle retail stores and merchandising space rental provider on

BTS SkyTrain stations

Strategic ecosystem to meet customers' demands

Development and operations

Marketing and sales

Service to 40mn unique audience reach

Procurement of infrastructure and digitalised systems

Research and development, human resource management, maintaining MIX's seamless business

Investment community

Customers

Suppliers/

contractors

Employees

Development

OTHER INFORMATION

1. Reporting Boundaries
2. Independent Assurance Statement Sustainability Performance Data
   GRI Content Index

MATCH

HHT	Thana City	Turtle23	Rabbit Holdings
Construction and	Golf and	Food and	Financial services,
construction	Sports	beverage	insurance and
management	Club		real estate
business			investment

Providing strategic partnerships for our business partners to create new business opportunities

Civil society/

media/

academia

1.3 BTS Group Value Chain BTS GROUP SUSTAINABILITY REPORT 2023/24